State of Tennessee Department of Treasury Decreases Stock Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

State of Tennessee Department of Treasury lessened its position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 75,270 shares of the real estate investment trust’s stock after selling 2,124 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Sabra Health Care REIT were worth $1,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SBRA. Principal Financial Group Inc. lifted its position in shares of Sabra Health Care REIT by 0.8% in the third quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock valued at $401,479,000 after acquiring an additional 167,069 shares in the last quarter. Barclays PLC lifted its position in shares of Sabra Health Care REIT by 56.1% in the third quarter. Barclays PLC now owns 678,397 shares of the real estate investment trust’s stock valued at $12,624,000 after acquiring an additional 243,895 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Sabra Health Care REIT in the third quarter valued at approximately $59,000. Franklin Resources Inc. lifted its position in Sabra Health Care REIT by 12.3% during the third quarter. Franklin Resources Inc. now owns 524,917 shares of the real estate investment trust’s stock worth $9,543,000 after buying an additional 57,551 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Sabra Health Care REIT by 222.4% during the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock worth $183,996,000 after buying an additional 6,819,919 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Sabra Health Care REIT Price Performance

SBRA stock opened at $17.85 on Thursday. The business has a fifty day moving average of $17.22 and a two-hundred day moving average of $17.52. The company has a quick ratio of 4.16, a current ratio of 4.32 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 1.97 and a beta of 0.93. Sabra Health Care REIT, Inc. has a 52-week low of $13.82 and a 52-week high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $182.35 million during the quarter, compared to analysts’ expectations of $178.01 million. Sabra Health Care REIT had a return on equity of 4.60% and a net margin of 18.02%. As a group, research analysts anticipate that Sabra Health Care REIT, Inc. will post 1.45 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.72%. Sabra Health Care REIT’s payout ratio is presently 226.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citizens Jmp upgraded Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Truist Financial lifted their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, March 18th. Finally, JMP Securities upgraded Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

About Sabra Health Care REIT

Sabra Health Care REIT, Inc engages in the business of acquiring, financing, and owning real estate property. The company was founded on May 10, 2010 and is headquartered in Tustin, CA.